It is going to be a roller coaster ride in the market tomorrow by virtue of market experiencing the derivative expiry delivery pains like labour pains and it is unpredicted. No clear trend has emerged except that mkt is trading with a negative bias and clear trend will emerge only post closure of the market. Thus as a thumb rule do not leave the trading screen with trade in place and do remember to place the stop loss to avoid being surprised. However those following the hot stocks for tomorrow need not worry as improvement in selective stocks based on the performance in the March quarter is going to be seen and we know where the action is happening. Moreover announcement of inflation numbers midway through the session is also expected to trigger a two-way movement on the indices. Volatility is likely to remain high on Thursday as it marks the expiry of the current month derivatives series. The open interest in the Nifty call and put options hints at resistance above 5,900 and strong support around 5,700.
Banking stocks saw a decline in the market by virtue of RBI imposing penalties on 19 banks for not complying with its instructions on derivatives. One has to keep the credit policy which is also in sight on Tuesday and it will also have an impact on Dalal Street activity as investors and traders will be trading with a cautionary approach towards their investments. The market breadth was marginally negative in today’s trade with 1,317 advances as against 1558 declines at Bombay stock exchange.
One need not worry as market is aware of the factors which can affect the earning potential of the companies and we see at maximum a correction of 9% and in terms of Nifty it translates into a correction of approx 600 points where again value buying will emerge.
Air India has done right by hitting back at the striking pilots and has terminated the services of six members of the Indian Commercial Pilot Association (ICPA). The airline has declared the strike illegal and now private airlines are cashing it as an opportunity by increasing fare prices steeply. Now where civil aviation guidelines have gone where they had stated that all airlines will be made to display fares and will not be able to change it drastically. It is a harrowing experience for a struck person and worse airport we have seen in Calcutta where one even do not get place to sit on stairs and this is the state of an airport.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5800-5771-5750 | 5900-5971 |
| Sensex | 19450-19226 | 19600-19713 |
| Stock | Profit (Rs) |
| Tip | Call was not initiated as it opened gap up |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 24980 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 35780 |
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Strong future shares at National stock exchange
DCB, Jindal SWHL, S Kumars, Tata Chem, Triveni, Praj Ind, Boschl, Bata India, MRPL & AREVA
Weak future stocks at NSE
GVKPIL, PFC, Orbit Corp, Bhel, DLF, Nat Alum, Infosys, IRB, GMR Infra & Axis Bank.
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